Zacks Investment Research cut shares of Digital Turbine, Inc. (NASDAQ:APPS) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “Digital Turbine Inc. offers products and solutions for mobile operators, device OEMs and third parties. The company’s product include DT Ignite(TM), a mobile device management solution with targeted app distribution capabilities, DT IQ(TM), a customized user experience and app discovery tool, DT Marketplace(TM), an application and content store and DT Pay(TM), a content management and mobile payment solution. It operates primarily in Berlin, Singapore and Sydney. Digital Turbine, Inc., formerly known as Mandalay Digital Group, Inc., is headquartered in Austin, Texas. “

APPS has been the topic of a number of other research reports. Craig Hallum lowered shares of Digital Turbine from a buy rating to a hold rating in a research note on Tuesday, October 11th. Roth Capital lowered shares of Digital Turbine from a buy rating to a neutral rating in a research note on Monday, September 26th. Finally, B. Riley cut their price objective on shares of Digital Turbine from $1.70 to $1.35 and set a buy rating on the stock in a research note on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $1.50.

Analyst Recommendations for Digital Turbine (NASDAQ:APPS)

Shares of Digital Turbine (NASDAQ:APPS) traded up 2.90% during mid-day trading on Tuesday, reaching $0.71. 51,027 shares of the company’s stock traded hands. Digital Turbine has a 12-month low of $0.56 and a 12-month high of $1.55. The company’s 50 day moving average is $0.73 and its 200 day moving average is $0.97. The company’s market cap is $47.31 million.

Digital Turbine (NASDAQ:APPS) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.03. Digital Turbine had a negative net margin of 28.11% and a negative return on equity of 32.86%. The company had revenue of $22.80 million for the quarter, compared to analyst estimates of $24.72 million. During the same quarter in the previous year, the company posted ($0.14) EPS. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts predict that Digital Turbine will post ($0.37) EPS for the current fiscal year.

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In other Digital Turbine news, Director Robert M. Deutschman acquired 150,000 shares of the business’s stock in a transaction dated Thursday, December 8th. The shares were purchased at an average price of $0.61 per share, for a total transaction of $91,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Keane Capital Partners LLC raised its stake in Digital Turbine by 19.5% in the second quarter. Keane Capital Partners LLC now owns 1,093,064 shares of the company’s stock worth $1,170,000 after buying an additional 178,423 shares during the last quarter. Perkins Capital Management Inc. raised its stake in Digital Turbine by 221.2% in the third quarter. Perkins Capital Management Inc. now owns 1,013,080 shares of the company’s stock worth $1,064,000 after buying an additional 697,655 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Digital Turbine during the second quarter worth $225,000. White Pine Capital LLC raised its stake in Digital Turbine by 12.3% in the second quarter. White Pine Capital LLC now owns 620,675 shares of the company’s stock worth $664,000 after buying an additional 68,200 shares during the last quarter. Finally, S Squared Technology LLC raised its stake in Digital Turbine by 9.3% in the second quarter. S Squared Technology LLC now owns 1,332,320 shares of the company’s stock worth $1,426,000 after buying an additional 113,300 shares during the last quarter. Hedge funds and other institutional investors own 18.16% of the company’s stock.

About Digital Turbine

Digital Turbine, Inc is engaged in delivering end-to-end products and solutions for mobile operators, application advertisers, device original equipment manufacturers (OEMs) and other third parties to enable them to monetize mobile content. The Company operates its business in two operating segments: Advertising and Content.

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